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1. AVICHI COLLEGE OF ARTS AND SCIENCE
ARCOT ROAD, VIRUGAMBAKKAM CHENNAI-92
CIA TEST- II, ODD SEMESTER, SEPTEMBER 2022
CLASS: III B.Com (A&F) TIME: 2Hrs
SUB NAME: Income Tax Law and practice I MAX. MARKS: 50
DATE: 09.2022
SECTION-A (10*2=20)
ANSWER ANY TEN QUESTIONS
1. What do you mean by provident fund?
2. What is CCA?
3. What is meant by Pension?
4. What is meant by Gratuity?
5. What do you understand by HRA?
6. What is DA?
7. From the details given below, compute net salary for the assessment
year 2015–16.
(a) Salary 3,500 p.m.
(b) DA 1,000 p.m.
(c) CCA 200 p.m.
(d) HRA 1,000 p.m. (Rent paid in Delhi 1,500 p.m.)
(e) Commission on sales received 6,000.
8. What do you mean by salary?
9. What is meant by PPF?
10. Give the meaning of Allowances.
11. Define ‘‘Perquisites’’.
12. State the types of provident fund.
SECTION-B (4*5=20)
ANSWER ANY FOUR QUESTIONS
13. Calculate deduction u/s 80C from the following:
Contribution to PPF Rs. 50,000
NCS – VIII issue Rs. 11,000
Insurance premium on his wife’s life Rs. 25,000/- (sum assured Rs.
1,50,000)
14. Calculate the amount of R.P.F. which is taxable: (a) Salary 7,500
p.m. (b) Employer’s contribution to RPF @ 14% of salary (c)
Interest credited to RPF during the year @ 12% is 24,000.
15. Explain any ten exempted incomes u/s 10 of the Income Tax Act
1961.
16. From the following, calculate income from salary of Mr. Sunil.
Salary Rs. 78,400; Bonus Rs. 6,200; EA Rs. 3,000 ; HRA Rs. 7,000
P.A. (He stays in his own house) ; D.A. Rs. 24,400 (forming part) ;
Education allowance : Rs. 4,400; Hostel allowance : Rs. 6,000;
Travelling allowance : Rs. 4,900 (actual amount spent Rs. 3,720) ;
washing allowance Rs. 1,175 (Actualamount spent Rs. 795);Assume
Mr. Sunil as Non-Government employee, employed in Chennai.
17. Calculate income from salary of Mr. Rajesh, a director employee of
HD Ltd., Bilaspur.
Basic salary : Rs. 40,000 p.m. , DA : Rs. 12,000 p.m (not forming
part) ,Bonus : Rs. 50,000 ,HRA : Rs. 8,000 p.m (Rent paid nil)
Both the employer and the employee contribute 14% of salary
towards RPF.
SECTION-C (1*10=10)
ANSWER ANY ONE QUESTIONS
18. Explain the rules relating to House Rent Allowances and
Entertainment Allowances.
19. Income details of Thirumurugan are as follows :
(a) Salary 5,000 p.m
(b) D.A. 2,000 p.m
(c) Entertainment allowance 300 p.m
(d) Employers contribution to RPF 7,900 p.a
(e) Interest credited to RPF @ 9.5% 1,000
(f) City compensatory allowance 150 p.m
(g) Medical allowance 100 p.m (h) HRA 600 p.m (rent paid 750
p.m)
Calculate salary income for the A.Y.